Global DOOH industry to scale $5bn level by 2024
By M4G Bureau - August 02, 2018
Factors like increased spending on Programmatic Advertising, Focus on Business Intelligence and Rising Market Competitiveness with drive the growth
Persistence Market Research released a comprehensive report on the global programmatic advertising platform market titled 'Programmatic Advertising Platform Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025'. As per the study, the global Digital out of Home Market is expected to exceed more than US$ 5 Billion by 2024 at a CAGR of 10.3% in the given forecast period. Programmatic advertising has a major role in the overall digital out of home market. The programmatic advertising platform is an online auction where media buyers specify their targeting needs, such as audience demographics, time of day and location, still as their budgetary constraints.
The study showcased that the major driving factors of global Digital Out of Home Market includes increased spending on Programmatic Advertising, increasing Focus on Business Intelligence and Rising Market Competitiveness and Technological Innovations in Display Technologies. However, increasing Trend of Online/Broadcast Advertisement seems to be the restraining factor of ¬ global Digital Out of Home Market.
While moving ahead, opportunities like Rising Demand for Internet of Things (IoT) and Emergence of the Cloud Platform and Increasing Usage of Virtual and Augmented Reality in Digital Out of Home Advertising will become big driving factors of ¬ global Digital Out of Home Market. alongside, and factors like Developing Equipment Suitable for All Weather Conditions and Lack of Standards for Interoperability Between Devices may turn out to be challenging factors in the growth process.
The global Digital Out of Home Market is segmented on the lines of its product, application, vertical and regional. Based on product type segmentation it covers (Billboard, Street Furniture and Transit); based on application it covers (Indoor, Outdoor and Displays Used in Digital Out of Home Advertising) and based on vertical it covers (Commercial, Infrastructural, Institutional, Other Verticals). The global Digital Out of Home Market on geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.